India hikes import duties on gold and silver to 15%

Business May 16, 2026

India just bumped up import duties on gold and silver from 6% to 15%, hoping to slow down the rush of precious metals into the country and shrink the growing trade deficit.
The government is also putting new limits on duty-free gold: now, only 100kg per license, with stricter checks for first-timers and more hoops for repeat applicants.

Biweekly reports for duty-free gold exporters

Exporters bringing in gold duty-free now have to file certified transaction reports every two weeks, which will be closely monitored by authorities.
Even though India's gold imports hit nearly $72 billion in 2025-26, with Switzerland, the UAE and South Africa among the top source countries, industry groups worry these tougher rules could push more trade into the gray market.